© Reuters. The logo and trading symbol of financial services company State Street are displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 8, 2017. REUTERS/Brendan McDermid/File Photo
(Reuters) – State Street Corp (NYSE:) said on Monday its CEO and Chairman Ron O’Hanley will take on an additional role as the bank’s president after Louis Maiuri retires, set for early next year.
Maiuri also serves as State Street’s chief operating officer and head of its largest business, investment services.
The custodian bank said Mostapha Tahiri, currently head of Asia Pacific, Middle East and North Africa, will become chief operating officer, while O’Hanley will take the responsibility of the investment services unit.
State Street is among the world’s largest custodian banks with $40 trillion in assets under custody and/or administration and $3.7 trillion in assets under management (AUM) as of Sept 30.
Earlier this month, the company beat analysts’ estimates for third-quarter profit, helped by a rise in fee income and AUM.
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